Verge (XVG) Ties Bitcoin (BTC) In China’s New Crypto Rating
In a Cryptocurrency raking issued by a research institute at the Ministry of Industry and Information Technology, China, the crypto don, Bitcoin was not really recognized as it was ranked 13th alongside, Verge (XVG), the secure and anonymous Cryptocurrency.
The listing which was tagged “global public-owned chain technology evaluation index and ranking” placed 28 Cryptocurrencies head-to-head in the table while Ethereum took the lead with a smart contract function technology assessment index of 129.4.
Steem and Lisk according to the table took position 2 and 3 respectively, as Cardano and IOTA were also levelled to position 7. Stellar in the table was in position 6 while Monero and Stratis took sits 9 and 10.
According to the release, the evaluation of the global public-private chain technology was done with a focus on the basic technical level, application level and innovation ability of the public chain.
NEO on position four in the table was given much recognition in the use of smart contract, placing it atop in application assessment because the altcoin has been able to use smart contracts to automate the management of digital assets, and it moves around the world to created solutions.
Examining the evaluation, observers have opined that China is still behind in the area of technological innovation as NEO is the only top-ranked public-chain projects in the listing.
As much as the evaluation is done on both public and private chain, the public chains on the list include are Styme chain, the application chain, NEO and Komodo.
Other altcoins included in the evaluation placed in position 16-28 includes:
Ether Classics, Reverb Chain, Dash, Cloud Storage Chain, Bitcoin, Litecoin, Ark, Big Zero Coin, Nano, Bit Cash, Decred, Super cash and new chain.
While it is ambiguous why China released the rating, some have opined that the country may be making move to give Cryptocurrency another chance after shutting down all exchanges and banned all form of domestic trading in the country last year.
It is believed that the release, which is the world’s first technology-focused public chain assessment index issued intermittently on monthly basis will help enhance the grasp of blockchain technology in innovating.